Williams & Novak LLC Buys New Holdings in Devon Energy Co. (NYSE:DVN)

Williams & Novak LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,222 shares of the energy company's stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the third quarter valued at approximately $35,000. Future Financial Wealth Managment LLC bought a new position in Devon Energy in the third quarter worth $39,000. True Wealth Design LLC raised its holdings in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

DVN stock traded up $0.14 during trading on Wednesday, reaching $35.02. The stock had a trading volume of 2,525,523 shares, compared to its average volume of 9,811,345. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The stock's 50 day moving average is $35.14 and its two-hundred day moving average is $39.70. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $23.00 billion, a PE ratio of 6.50, a PEG ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. Devon Energy's revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is currently 16.33%.

Analyst Ratings Changes

A number of research firms have issued reports on DVN. TD Cowen decreased their price objective on Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, November 5th. Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a report on Friday, October 18th. Wolfe Research upgraded Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Scotiabank cut their target price on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.45.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.